Support is being channelled through the Demján Sándor Program, offering 3% credit in the framework of the Széchenyi Card Program and an eleven-point package to reduce tax and administrative burdens, he said, according to MTI.
Credit support for SMEs through the Széchenyi card products equals HUF 300 bln and the 11-point package to reduce tax and administrative burdens saves them HUF 93 bln, the minister said.
The help and protection for Hungarian-owned SMEs and ensuring their financing remains sufficient, and next year we can overcome the difficult period of the past three years, Nagy said.
The government spends HUF 3 trillion annually on economic development, and the goal is to distribute as much of the money as possible through business organizations.
Answering questions from MPs, Nagy said the government continues to support investments in the automotive value chain and the related battery industry, as electromobility trends are expected to strengthen in the long term.
Hungary has become attractive due to the automotive ecosystem, and battery manufacturers can expect a significant increase in orders due to the shortage in Europe, he noted.
The focus of economic policy may gradually expand towards other sectors such as IT, logistics, food industry and the defense industry, which could provide intensive growth after the extensive growth phase, he added.
Nagy said it is necessary to support the development of energy providers and launch energy storage programmes for industrial purposes, as Hungary is lagging behind in this.
Storage capacity for solar energy output is just 2% compared to the 10% EU average.
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